Prime Minister Narendra Modi tonight announced demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption.
"This is the biggest and the boldest step by the government for containing black money. It is like a surgical strike on black money," Adhia tweeted.
Finance Secretary Ashok Lavasa said the step is another move to attack the biggest menace facing the country.
Modi said people holding notes of Rs 500 and Rs 1,000 can deposit the same in their bank and post office accounts from November 10 till December 30.
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